Mukesh Ambani has resigned as director of Reliance Jio effective from June 27 and handed over the reins of the company to his elder son Akash.
In a stock exchange filing, Reliance Jio said the company’s board at a meeting approved the appointment of Akash Ambani, non-executive director, as chairman of the board of directors of the company.
The board at its meeting also approved the appointment of Pankaj Mohan Pawar as Managing Director of Reliance Jio for a period of five years commencing from June 27, 2022. Raminder Singh Gujral and KV Chowdary were appointed independent directors.
However, Mukesh Ambani will continue as the chairman of Jio Platforms Ltd, the company that owns all Jio digital services brands including Reliance Jio.
Akash, an economics graduate from Brown University in the US, has been involved in the development of new technologies and capabilities and will continue to work towards making data and technology more accessible to all, the company said in a statement.
According to TRAI data, India’s largest telecom operator, Reliance Jio, had gained 16.8 lakh mobile subscribers in April, cementing its lead in the market.